Financial Aid Programs for MBA Students University of Maryland

Federal Unsubsidized Stafford Loans

Eligibility Requirements:

    * meet the Eligibility Requirements for Federal Student Aid
    * submit a FAFSA
    * enroll as degree-seeking students

Students do not need to demonstrate financial need.

Enrollment Requirements: You must enroll for at least 6 credits or 24 Graduate Units for each semester that you want to receive the loan.

Processing Fees: The lender is authorized to change the borrower origination and guarantee fees. These fees will not exceed 4% of the amount borrowed and they will be deducted from each semester's disbursement.

Interest Rate: Interest accrues while the student is enrolled in school and during the repayment period. The variable interest rate for each 12 month period will be adjusted each July 1 to equal the rate of the 91-day Treasury bill plus 3.1%. For loans disbursed on or after July 1, 1994 the interest rate is capped at 8.25%. For loans disbursed between October 1, 1992 and July 1, 1994 to students with no prior outstanding Stafford Loans, the interest rate is capped at 9.0%.

Repayment Terms: Loan repayment begins 6 months after you cease to be enrolled at least half-time. The Maximum Repayment Period is 10 years.

Federal Subsidized Stafford Loans

Eligibility Requirements:

    * meet the Eligibility Requirements for Federal Student Aid
    * submit a FAFSA
    * demonstrate financial need
    * enroll as a degree-seeking student

Enrollment Requirements: You must enroll for at least 6 credits or 24 Graduate Units for each semester that you want to receive the loan.

Processing Fees: The lender is authorized to change the borrower origination and guarantee fees. These fees will not exceed 4% of the amount borrowed and they will be deducted from each semester's disbursement.

Interest Rate: Subsidized Stafford Loans are interest free while you are enrolled in school at least half-time in a degree granting program (undergraduate or graduate). During repayment, the variable interest rate for each 12 month period will be adjusted each July 1 to equal the rate of the 91-day Treasury bill plus 3.1%. For loans disbursed on or after July 1, 1994 the interest rate is capped at 8.25%. For loans disbursed between October 1, 1992 and July 1, 1994 to students with no prior outstanding Stafford Loans, the interest rate is capped at 9.0%.

Repayment Terms: Stafford Loan repayment begins 6 months after you cease to be enrolled at least half-time. The Maximum Repayment Period is 10 years.

Please visit Financial Aid Programs for MBA Students University of Maryland for further details